At the
High-Level Solutions Dialogue on Climate Finance during the United Nations
General Assembly, His Excellency President William Ruto of Kenya articulated
Africa’s dual challenge of bearing severe climate impacts while holding vast
potential to lead global climate solutions. He emphasized the injustice of
expecting nations that contribute least to the climate crisis to finance the
majority of their climate action.
President Ruto
warned that requiring African countries to fund 60% of climate measures
domestically risks deepening economic vulnerability. He outlined a more
sustainable path, including tackling illicit financial flows—which cost the
continent USD 90 billion annually—and advocating for a fairer global tax
system. He also stressed the need for reformed debt and financing structures
that align climate action with fiscal stability.
The President
highlighted Africa’s significant green investment opportunities in renewables,
green industry, and mineral processing. Through initiatives such as the Africa
Green Industrialisation Initiative (AGII) and the Accelerated Partnership for
Renewables in Africa (APRA), African leaders are advancing policy reforms and
mobilizing capital. Recent agreements among eight African financial
institutions aim to mobilize USD 100 billion in investments.
President Ruto
called on global partners to provide catalytic public finance that de-risks
investments, enables projects, and ensures fair market access, underscoring
that Africa is ready to act but requires urgent and equitable international
cooperation.
By: Nana Appiah Acquaye
